Minister: Iran Ready for $30b Oil, Gas Foreign Investment

Minister: Iran Ready for $30b Oil, Gas Foreign Investment

TEHRAN (FNA)- Minister of Petroleum Bijan Zangeneh said Iran eyes signing new investment contracts with foreign firms in the fields of oil and gas worth 20 to 30 billion dollars in the next two years.

He made the remarks in a televised interview on Tuesday night.

The minister referred to the upcoming Iran Petroleum Contracts conference scheduled to be held in Tehran on November 28-29 saying the new contracts will be more appealing to foreign investors while safeguarding the national interests.

To a query on the Iran-Pakistan gas pipeline, Zangeneh said the agreement is valid while the Pakistani side had to stop construction on its soil because of sanctions.